The US Federal Reserve is a private entity. It is not governed by the US president.
So even if Donald Trump becomes president, he will need money from the Federal Reserve to buy Bitcoin. And why would he give it? Think About It Suppose if the Federal Reserve gave money to the US government (the President) to buy Bitcoin. So don't you think that instead of keeping dollars in reserves, people will start buying bitcoins. And it is only with dollars that America has dominance in the whole world. So just imagine that Donald Trump is not lying? That is why the Federal Reserve of any country will never make Bitcoin or other crypto a reserve asset.
Everyone saw in this bear market that except Bitcoin and Ethereum, all the other alt coins fell by more than 95% from their all-time high. Yet many people are still not buying Bitcoin and Ethereum. These are the people who want to become rich overnight. We are not saying that everyone is like this but the percentage of people who do so is 90. Many people spend their money on the advice of some famous influential people without doing research and do not want to do research themselves. Sorry, we said a lot of words of wisdom. But yes, we want to say that it is your money, you have earned it with your hard work, so you should invest it only after doing a little research. People say that Bitcoin gives very low returns but yes we would say that till now the maximum alt coin is 80% below its all time high and Bitcoin has made its new all time high. You are looking for higher returns but this Also imagine that if we compare it with our central bank, then you will see that Bitcoin has given more returns than bank FD.
🗣️Ripple CEO says new stablecoin 'very close' to launch, rules out US IPO
•During his fireside chat at Korea Blockchain Week, Ripple CEO Brad Garlinghouse said the company will launch its new stablecoin in “weeks, not months.”
•Garlinghouse also criticized SEC Chair Gary Gensler’s approach to crypto, saying what happened to OpenSea is “unfortunate.”
•The Ripple CEO said he is more “optimistic” about the next five years of crypto than he has ever been. $XRP #Stablecoins
🗣️Former Mt. Gox CEO’s new crypto exchange set to launch this month with 'transparency' focus
•Mark Karpeles, the former CEO of Mt. Gox crypto exchange, said his new crypto exchange will launch this month in Europe, with a focus on transparency and user-friendliness. •Karpeles expressed hope that the level of transparency from his new exchange can become the industry standard.
Forrmer Mt. Gox CEO Mark Karpeles aims to launch his new crypto exchange later this month with a focus on transparency and user-friendliness, the crypto entrepreneur told The Block in an interview on Wednesday at the Korea Blockchain Week event in Seoul, South Korea. The upcoming platform, named EllipX, plans to launch in Europe later this month with its base in Poland. “Mt. Gox was based in Poland, so I do know it [well] as a country,” Karpeles said, adding that the new exchange is currently working to be compliant with MiCA. Karpeles will oversee the technical aspects of EllipX as its chief technology officer. #MtGox钱包动态 #MtGox
Cardano shifts to decentralized governance as Chang hard fork goes live
Following years of effort, the first stage of Cardano’s Chang upgrade has gone live, transitioning ownership of the blockchain to holders of its native ADA token. With the upgrade, Cardano enters its final stage of development, dubbed the Voltaire era. Cardano, the Layer 1 blockchain founded by Ethereum co-founder Charles Hoskinson, has officially undergone the first stage of its Chang hard fork, becoming the first major blockchain to transition its centralized governance structure to a token-based decentralized governance system. Over the next 90 days, Cardano will undergo a full transformation to a community-led governance model overseen by an interim committee. At the end of the 90 days, the second stage of the Chang hard fork will activate, fully turning power over to its new governance bodies, which include a constitutional committee, delegate representatives, and staking pool operators. "The goal of the first stage is to ensure security and continuity during the governance bootstrapping phase, allowing [delegate representatives] to register and campaign for delegation, while developing and ratifying a final constitution by early 2025," Cardano's explanation reads. While at times Cardano ranked in the top 5 cryptocurrencies by market cap, recent dynamics have been less than favorable for the token, which fell out of the top 10 last month as TRON's TRX token and Telegram's Toncoin have grown. "When I reflect back at where we started as an ecosystem it was just an idea...we've grown tremendously throughout the years. There've been ups and downs, there's been a lot of disappointments, but now we are here," Hoskinson said in a video posted to X. "Now we are here today...a day where the entire ecosystem, the community, every holder of ADA stands shoulder to shoulder as equals and they all have a say in the future not just of this protocol, but what this protocol can do for everyone in the world." $ADA
🚨Thailand busts bitcoin mine after repeated power outages: report
•Thai authorities raided a bitcoin mine that did not fully pay its electricity bills. •Southeast Asian countries, including Malaysia, have cracked down on power theft associated with bitcoin mining in the past few weeks.
Thailand’s police and electricity authorities announced on Sunday that they raided an illegal bitcoin mine in a local town following frequent reports of power outages from the nearby area in the past several weeks.
AFP reported that officials from the Provincial Electricity Authorities, along with local police, raided a house in Ratchaburi, a province in central Thailand to the west of Bangkok.
Jamnong Chanwong, a chief district security officer, reportedly explained that the power outages began around the middle of July, likely when the mine became fully operational. Thai authorities said the mining operator paid very little in fees compared to the large amount of power consumption. The authorities, however, did not arrest anyone at the mine. $BTC $ETH $SOL
Polygon restores control of Discord server following $145,000 hack as POL token launch approaches
Polygon has regained control of its community Discord server following a hack that allegedly cost one user about $145,000 in assets. The attack, seemingly from a serial hacker, comes shortly before Polygon’s planned mainnet upgrade on Sep. 4, which will transition its native token MATIC to a new token with the ticker POL. Polygon has regained control of its community Discord after it was hijacked for about four hours on Saturday morning, allegedly leading to the theft of about $145,000 in assets from one user. "We have regained access and secured the Polygon community discord server. All external bots and integrations have been disabled while we perform a security review of each of them to avoid this from happening again," Polygon wrote on X. A fraudulent message was posted to the Polygon Discord at about 5 am GMT, seemingly from the account of its community lead Smokey, contemporaneous screenshots show. The message advertised a "special pre-migration" airdrop ahead of the Polygon network's planned migration from its native MATIC token to the upgraded POL token, which is scheduled for Sep. 4, along with a phishing link. At least one user claims to have fallen victim to the attack, and blockchain data backs up their claim of losing a Uniswap position worth about $145,000 in the hack. The transfer transaction occurred about 40 minutes after Polygon's chief information security officer, Mudit Gupta, alerted the Polygon community to the hack with a post on X, which was reposted by Polygon's X account, though it's unclear when the repost occurred. The wallet address where the Uniswap position was transferred, which likely belongs to the hacker, appears to have claimed other victims in the past. Ten days ago, the wallet transferred ether worth $72,300 at the time to a wallet flagged by Etherscan as a phishing perpetrator that now holds nearly $400,000 in assets. Five days ago, the wallet transferred $29,500 worth of ether to a different, but similarly flagged, wallet with $150,000 in assets. Polygon's team is currently unsure of the mechanism by which its Discord was compromised. "At this moment, we don't believe any of our mods were compromised this way [being phished]. It seems more likely that a bot/integration we had was compromised. Still going through the logs," Gupta posted on X. Gupta also stated that the team plans on releasing a postmortem following a review of the hack. $MATIC
🗣️Blockchain Association, DeFi Education Fund warn of privacy concerns
The Blockchain Association and the DeFi Education Fund have raised concerns that the SEC's Consolidated Audit Trail (CAT) database could compromise privacy for millions, including those involved in digital assets.
•The SEC adopted Rule 613 following the 2012 financial crisis, requiring national securities exchanges and the Financial Industry Regulatory Authority to maintain a CAT. •The groups argue that the CAT could deanonymize blockchain transactions, turning blockchains into a searchable repository for the government and potentially exposing a user's entire transaction history without a warrant. •They add that the CAT database, which collects personally identifiable information, poses significant privacy risks and could be vulnerable to data breaches. $BTC $ETH $BNB